SLI plea for offshore tax simplification measures

It has particularly suggested the government should remove the reporting requirement in Inheritance Tax (IHT) regulations for transfers which are less than 3.5% of the nil rate band. SLI points out a ‘good’ tax should have minimal compliance costs, but it warns the reporting requirement imposes an additional administrative burden without yielding any tax to HM Treasury. David Kneeshaw, chief executive of SLI, has used the letter to recommend four "modest changes" which it believes should be dealt with in the upcoming Budget, which is expected in March, describing them as "positive steps...